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Article: Feds want financial system overhaul
- Article from:
- Post-Tribune (IN)
- Article date:
- June 16, 2009
CopyrightCopyright 2009, Post-Tribune. All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
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WASHINGTON -- The Obama administration says it is committed to overhauling the country's financial rule book by giving the Federal Reserve increased powers to guard against the types of risks that could bring down the entire system.
All large institutions whose failure could threaten the stability of the financial system will be subjected to regulation by the Fed, administration officials said. The proposal also would create a council of regulators with broad coordination responsibility across the financial system.
The officials also said the administration will offer a ...